Quick Take
- Long-term holders are defined as holding longer Bitcoin for more than 155 days, which would be from at least December 7th, 2022.
- Currently, 14.3 million Bitcoin are held by long-term holders, which is an all-time high; they bought relatively near the bottom of the cycle and have already been held through a banking collapse in the U.S.
- A clear divergence started on April 12, as long-term holders continued to accelerate purchasing while short-term holders were offloading.
- Currently, short-term holders hold around 2.7 million Bitcoin, which is near all-time lows.
- STH supply is currently on a crucial long-term structure, which usually occurs during bear market lows.
- CryptoSlate expects long-term holder supply and supply last active more than a year ago to continue to rise.
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